We are an e-commerce company based at chennai & sell to consumers across India.
My questions is as follows
1) Do I need to create a seperate price list for within state sales (VAT) & inter-state sales (CST) - even though the rates are the same?
2) for the interstate sales, Do I need to show CST amount in the bill seperately like in the VAT bill ?
Regards
Srinivas
1. Yes, bcoz if you will sell the things without 'C' form or other form then you have to bear the cost of that tax part, so you need to keep or maintain seperate price list for central sales to avoid that cost on you. But if you sell with 'c' form then work on your cost and sell the things on margin which are on your hand only.
2. Yes, you need to show CST part seperately.
In your price list show only the basic price. in the invoices show the tax chrged separately. With 'C' form,without 'C' form and local sales at local rates of VAT. Then there is no need for separate price lists.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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